Bank of America again confident

In the first two months, which is currently the largest American bank profitably worked – CEO Lewis expects the full year, a positive result. The optimism of the three largest U.S. banks provide to the collective sigh of relief on Wall Street.

Despite ongoing financial and economic crisis, expects the Bank of America in 2009 with black numbers. After the first quarterly loss since 17 years 2008 was the largest U.S. institution in the first two months of this year profitably worked, said CEO Kenneth Lewis on Thursday in Boston.

He also expects the full year for a positive outcome. This was followed by Lewis, his colleagues from the major banks Citigroup and JP Morgan, which in the previous two days had their houses would be the beginning of the year profit.

The statements made on Wall Street for relief and a revival course. The shares of Bank of America shot up on Thursday after the Lewis remarks’ to the afternoon by 15% in the height.

Lewis also said new financial injections by the U.S. government needs money house. The Institute had in January $ 45 billion from the banking rescue package will receive TARP. Also the stress test of the government, the Bank of America exist.

He spoke out strongly against a nationalization of financial institutions from. This idea was a nightmare. This will awaken the misconception that all banks were insolvent. The investors would immediately bet the institution could collapse next. The mountains, the danger of a self-fulfilling prophecy, warned Lewis.

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on Friday, March 13th, 2009 at 11:49 pm and is filed under Recession.
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